San Francisco Bay Area Water Agency Selling Build America Bonds

The East Bay Municipal Utility District, which provides water to 1.3 million customers around Berkeley and Oakland in California, will lead municipal borrowers today with a $400 million Build America bond sale. The utility, which plans to offer 30-year bonds, is rated Aa2 by Moody’s Investors Service and AA by Fitch Ratings, each the third-highest rank, and AAA by Standard & Poor’s, the top grade. Hawaii and the Las Vegas airport previously this week sold almost $1 billion in Build America Bonds, whose taxable interest costs are 35 percent federally subsidized.

This month inHousingWire magazine

The first thing you notice about New American Funding's Rick and Patty Arvielo is how much they like each other. That might seem like a foregone conclusion when you meet a married couple, but when that couple also runs an incredibly successful business together, I imagine it could get complicated. Read on to find out more about how this successful couple manages their life, and business, together.

Commentary

For the first time since 1981, our industry is experiencing a rising interest rate environment. Some people may assume that the current market shift means their business will take a downward turn from which they will never recover. I don’t buy it. The way I see it, challenging times force us to refine our processes and practices.